Intro to Business-Chapter 1
Authored by Shelly Leifer
Specialty
9th - 12th Grade
Used 309+ times
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12 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Tangible products you can purchase to meet your wants and needs are called goods.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When you decide to buy a jacket instead of a concert ticket, you are making a trade-off
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Capitalism is another name for a traditional economic system.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Competition forces businesses to search for new ways to satisfy customers’ wants and needs
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The market price for a product is the point where demand exceeds supply.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The basic economic problem is
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An important principle of the U.S. economic system is
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